We advised Brookfield, investing through its core-infrastructure fund, together with Alecta, on the acquisition of 49 percent of Telia Company’s tower business in Finland and Norway. The acquired tower business is comprised of approximately 4,700 towers. Our work consisted of preparing and filing a foreign direct investment application for approval to the Finnish Ministry of Economic Affairs and Employment, obtaining the approval on 14 December 2021.
Brookfield’s core-infrastructure fund is a leading global infrastructure platform that owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors across North and South America, Asia Pacific and Europe. Alecta has over 100 years of history as a trusted investor with over SEK 1,100 bn in assets under management, having 2.6 million private customers and 35,000 customer companies.
Telia Company has the largest tower infrastructure footprint in the Nordics and the Baltics, with approximately 25,000 towers and rooftop sites. In Finland and Norway, the part of Telia’s tower business subject to this acquisition is comprised of approximately 4,700 towers with a total revenue of EUR 88 million and an EBITDA of EUR 56 million in 2020 (pre IFRS 16).
Transaction Powerhouse – Acquisition of part of Telia Company’s tower business in Finland and Norway